How To Get Bitcoins From A Bitcoin Exchange

The Best Ways To Buy Bitcoin

Bittrex.com:  Leading U.S. based cryptocurrency trading platform since 2014.  Buy and sell bitcoin, altcoins, and ethereum tokens.

Purchase in bitcoin with a Bank Account

Binance.us:  Invest in bitcoin or trade altcoins against the U.S. Dollar.  Low fee bitcoin trading platform.

Coinmama.com

Buy Bitcoin with a Debit Card or Credit Card

Coinmama.com Buy bitcoin or ether with your credit card.  Once you verify your identity you can purchase to $15000 worth of cryptocurrencies.

Buying bitcoin with a card is more expensive.  There will be a transaction fee or premium over market price for your bitcoins.  It is more cost efficient to buy bitcoin with your bank account.

Buy Bitcoin with Cash

LocalBitcoins.com:  A peer to peer market that connects you with a bitcoin seller near you.  There are dozens of ways to pay for your bitcoin, including meeting up in person or making anonymous cash deposits to a bank near by.  Localbitcoins is the most used way to trade bitcoin in the world.

Buy bitcoin with Paypal

Xcoins.io:  Buy bitcoin with your paypal account or earn interest on your bitcoins via paypal payments

Spend Bitcoin on Amazon to Save 15%

Purse.io lets you save 15-25% on Amazon.com orders when you pay with bitcoin.  Just sign in with your Coinbase or Facebook account and link your Amazon wishlist.   Someone with Amazon gift cards will pay for your order in exchange for your bitcoin – You don’t pay until after your gifts are delivered!

Keeping Your Money Safe

Buying bitcoins has become a very streamlined process in the past year.  You can buy bitcoins online without worrying about being scammed.  It is easy to make an account with any of these companies and order bitcoins to your personal bitcoin wallet.  If you do not have a bitcoin wallet there are several types to choose from below:

Hardware Wallets – Safest Digital Asset Storage

Keepkey.com – A simple hardware wallet – Easy cold storage for your bitcoin.  Integrates with multibit wallet.

Desktop / Personal Computer Wallet

Ideal for day to day use and online shopping – List of Bitcoin Wallets

Mobile / Smart Phone Wallet

Ideal for spending on-the-go.  Use bitcoin anywhere – List of Bitcoin Mobile Wallets

Live Bitcoin Price & Chart Analysis Tools

Ideal for bitcoin & digital asset traders: TradingView.com  Free Trial

Cryptocurrency Portfolio Manager

Cointracking Keep track of all your bitcoin, altcoin & digital asset trades.  Manage all your blockchain investments from one easy platform.  Capital gains & losses reporting tools.   Signup for free:  1st 200 trades = no charge

Make sure you subscribe for more bitcoin tips and discounts! Check the right side bar.

How Do You Invest In Bitcoin?

A bitcoin exchange is a website where users can buy and sell bitcoins from each other.

To buy bitcoins, deposit your local currency to an exchange and place a Bid or ‘buy order’.

To sell bitcoins, deposit bitcoins to an exchange and place a Ask or ‘sell order’.

Together, the Bids & Asks make up what is called an ‘Order Book’.  When there is a price match on the Order Book, a bitcoin trade between those two people occurs.   Here is a picture of the OrderBook for the BTCUSD trading market BitFinex.com

You can see how much is for sale, and you can see who has active orders to buy bitcoins.

how to get bitcoins

Which Bitcoin Exchange Is Best?

There is no best bitcoin exchange, but everyone has their favorite.  When choosing a bitcoin exchange there are a few factors that will help narrow it for you:

How many bitcoins you want to trade:  If you are a large investor you need to choose an exchange that has high liquidity in the order books to make sure your trades are filled without moving the price too much.  You also want to find an exchange that has a Maker-Taker or Volume based trade fee model.

Your local currency:  Most bitcoin exchanges use USD, CNY or EUR as a fiat trading pair.  If you cannot deposit these currencies you’ll need to use one of the less popular exchanges.

Your country of citizenship:  Bitcoin laws vary throughout the world, specifically the Know Your Customer / Anti Money Laundering laws.  What this means is some bitcoin exchanges block users from certain countries because they don’t comply with the local laws.  The United States has some of the strictest policies.  Though bitcoin is perfectly legal in the United States, there are some bitcoin companies that still don’t want to do business with US customers.  That’s fine, there are several regulated U.S. based bitcoin companies you can use.

How you want to pay for the bitcoins:  There are tons of ways to buy bitcoins.  You can use your bank account, credit/debit card, Paypal, Cash, etc, but not every website accepts all these payment types.  Most bitcoin exchanges will allow you to wire money directly to and from your Banks checking or savings account.  This is how most people invest in bitcoin.  You can use credit cards or paypal, but it often costs more to buy bitcoin with these payment methods. There is also bitcoin price markup for paying in Cash because there is a high demand for people who want to avoid the KYC/AML laws.